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Friday, 04 December 09
DRY BULK MARKET IS ON THE RISE AGAIN
 Proving rather resilient, compared to previous behaviors, the dry bulk market has been on a rebound mode once again, after a two-week fall, which succeded a significant rally. The Baltic Dry Index has been rising steadily from Wednesday, surpassing once again the 4,000-point barrier, ending yesterday’s session up by a healthy 144 points to reach 4,062 points. Shipbrokers had already warned about the expected increase after observing renewed cargo interest ahead of the holiday season.
In its weekly report, Fearnley’s said that the trend from the last couple of weeks is broken, with the Capesize segment again picking up momentum. Indeed, the Baltic Capesize Index gained 288 points at 6,640 leading yesterday’s session, with the Panamax segment following closely. Referring to the capesize market, Fearnley’s noted that “declining steadily some 12% from $73500 to $64500 before recovering, average daily spot earnings now stand at close to USD 70000 and short-terms prospects are bright. Congestion remains considerable in main discharging ports and activity is picking up on the back of increased inquiry by both industrial bodies and operators.
Atlantic is leading the way by means of a very balanced cargo/tonnage ratio, supported by Australian miners absorbing a considerable chunk of prompt Pacific units. FFA levels finally give support to the period fixing taking place earlier in the week, including 180000 dwt/2009 N/B done for 12 months basis Dec delivery at USD 40000 and 180000 dwt/built 2009 fetching USD 42000 for 12 months basis prompt delivery off Muscat” the broker concluded.
According to a quote in Reuters by Adrew Dawson, an FIS broker, “there is a lot of fresh cargo enquiry in the Atlantic but it seems a large percentage of this is not actually firm business but more talk by traders trying to sell cargoes into a softer freight market". In the longer term though, brokers expect the market to continue presenting increased volatility, before facing increased downward pressure after the first quarter of next year, mainly as a result of an increase of tonnage supply, as more new buildings are bound to hit the water.
But, a series of reports this week, indicated that things may well turn the other way around. For instance, Cosco’s Chairman, Wei Jiafu said at a conference in Shanghai that ship owners may cancel or delay about 40% of new vessel orders (of all ship types) by the end of 2010, as a result of overcapacity concerns. Chinese shipyards have had orders for 88 vessels canceled this year through October, as lines, including Cosco, pare growth because of the global recession. Global shipyards hold bulk-ship orders equal to 60 percent of the capacity of the existing fleet, according to data compiled by Bloomberg. For container ships, the figure is 36 percent.
Meanwhile, in other remarks, this time by Clarkon Plc’s Managing Director Martin Stopford, the orderbook was now 44% of the extant fleet, compared with just 11% in 2000. ‘My guess is this is at least twice as much capacity as is really needed,’ he said. The orderbook has a contract value of $464bn, he said, but the actual market value of these ships if sold on delivery ‘could be half that amount’. Ships ordered in past years are at prices 30 to 50% above today’s collateral value, warned the doctor. He urged yards to slow delivery times for the coming couple of years. Owners and yards needed urgent dialogue, stressed Stopford, noting that, ‘On a purely financial note, someone must be prepared to write off $200bn’ he said.
Source: Hellenic Shipping News
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Friday, 18 December 09
COKING COAL SHORTAGE IN CHINA TO SPUR DEMAND FIGHT WITH JAPAN
China, the world’s largest steelmaker, faces a shortage of coking coal that may drive imports next year and spur a fight for resources with Ja ...
Thursday, 17 December 09
THE 6TH CLEAN ENERGY FORUM - CLEAN COAL 2010
COALspot.com (China) - Press Release: The 6th Clean Energy Forum--Clean Coal 2010 January 27-29, 2010 Renaissance Tianjin Teda Hotel And Conven ...
Thursday, 17 December 09
JFE STEEL INVESTS $555 MILLION IN AUSTRALIA COAL MINE
JFE Steel Corp., Japan’s second- largest producer, will invest 50 billion yen ($555 million) in a coal mine in Queensland, Australia, includin ...
Thursday, 17 December 09
CHINA, INDIA DEMAND MAY BOOST THERMAL COAL PRICE, JPMORGAN SAYS
Demand for thermal coal from China and India may boost prices of the fuel to $80 a metric ton next year amid reduced supplies and lower inventories, ...
Thursday, 17 December 09
RBCT PROBLEMS TO CAUSE STEAM COAL PRICE SPIKE IN Q1
Bugs in the new computer system at South Africa's Richards Bay Coal Terminal and persistent rail problems will make it impossible for exporters to ...
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- Electricity Authority, New Zealand
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- Miang Besar Coal Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Global Coal Blending Company Limited - Australia
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- London Commodity Brokers - England
- Deloitte Consulting - India
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Petron Corporation, Philippines
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- McConnell Dowell - Australia
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- Pipit Mutiara Jaya. PT, Indonesia
- Attock Cement Pakistan Limited
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- Trasteel International SA, Italy
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- SMC Global Power, Philippines
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- The University of Queensland
- Thiess Contractors Indonesia
- Indian Oil Corporation Limited
- Antam Resourcindo - Indonesia
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- Jorong Barutama Greston.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- Madhucon Powers Ltd - India
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- White Energy Company Limited
- Sical Logistics Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- Planning Commission, India
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- Manunggal Multi Energi - Indonesia
- Grasim Industreis Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Tamil Nadu electricity Board
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Star Paper Mills Limited - India
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- MS Steel International - UAE
- Videocon Industries ltd - India
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Mercator Lines Limited - India
- Merrill Lynch Commodities Europe
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- The State Trading Corporation of India Ltd
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- Bhushan Steel Limited - India
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- Interocean Group of Companies - India
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Independent Power Producers Association of India
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Sojitz Corporation - Japan
- Savvy Resources Ltd - HongKong
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- The Treasury - Australian Government
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